What’s ahead for you and your health care organization in the coming year? In this exclusive roundup of industry outlooks and predictions from leading industry sources, we definitely can say that 2017 will be like no other in health care.
From new value-based care models to new medical and information technologies to new expectations from patients and regulators, forward-looking payers, pharmacies, providers and drug manufacturers must be willing to adjust—if not disrupt—their traditional business models to achieve both clinical and financial success in the year ahead.
In alphabetical order by source, here are the must-read healthcare outlooks and predictions for 2017:
2017 American Hospital Association Environmental Scan
Source: American Hospital Association
Takeaway: “The development of virtual care centers may transform our traditional model of how we deliver health care, opening up a world of possibilities, but also introduce unforeseen challenges, and we need to prepare for those unexpected consequences.”
“The Top Issues That Will Affect Physicians in 2017”
Source: American Medical Association
Takeaway: “The regulatory burden placed on physicians is a major component of physician burnout. Physicians spend too much of their time on administrative tasks rather than providing care to patients. The evolving health care system needs easier enrollment, more rational program integrity rules and, overall, fewer reporting requirements.”
“9 Healthcare Tech Trends in ‘The New Year of Uncertainty’”
Source: Black Book Market Research
Takeaway: “Accuracy in pre-service, registration, timely capture of referrals, authorizations, and point of service financial clearance procedures will be key to improving downstream cash flow while decreasing the amount of rework and cost to collect. Middle office functions such as coding and clinical documentation improvement initiatives will be recognized as critical functions in favorable revenue cycle performance.”
“7 (plus 1) predictions for healthcare IT in 2017”
Source: CIO
Takeaway: “In 2017, we are more likely to hear terms such as ‘cognitive computing’ and ‘artificial intelligence’ (A.I.), and less likely to hear the term ‘big data analytics,’ which now seems to be limiting in its description of the actual work being done in advanced analytics. A related term that we will hear more of in 2017 is the internet of things (IoT), which refers to the ever-expanding ecosystem of data-collecting devices, such as wearables and sensors.”
“Cleveland Clinic Unveils Top 10 Medical Innovations Most Likely To Be Game Changers”
Source: Cleveland Clinic
Takeaway: “2017 will mark a complete shift in the lineup of medicines prescribed for diabetes patients, as well as a new wave of research into new avenues to target type 2 diabetes and its comorbidities. With the contribution of these new drugs, more patients will live to see the benefits.”
Health Insurance Industry Outlook 2017
Source: Deloitte
Takeaway: “In 2017, the challenge of affordability remains the signature issue, while government regulation and innovation continue to make profound impacts on the industry. Despite the demanding nature of the health plans sector, bright spots do exist on the horizon especially for health plans willing to make investments in the empowered health care consumer.”
Regulatory Science Priorities (FY 2017)
Source: FDA Center for Devices and Radiological Health
Takeaway: “Contact with infected objects and medical devices is a leading cause of healthcare associated infections. To help address this major public health challenge, CDRH is interested in employing regulatory science in three areas: antimicrobials added to medical devices, sterilization of implantable devices and reprocessing of reusable medical devices.”
“Healthcare in 2017: Rising Drug Costs, Obamacare and More”
Source: Fortune
Takeaway: “Driven by an influx of doctors motivated by new Medicare Access and CHIP Reauthorization Act (MACRA) incentivizing participation in new Medicare payment models, accountable care organizations shift from early adopters to mainstream. And after two years of learning, ACOs really begin saving money by decreasing hospitalizations.”
“A Look Ahead: Seven Trends Shaping Genomics in 2017 and Beyond”
Source: Genetic Engineering & Biotechnology News
Takeaway: “Another area primed for accelerating change in 2017 is pharmacogenomics. Doctors have known for as long as they've been prescribing medicines that drug metabolism often vary by patient. Pharmacogenomics, the study of how genetic variation contributes to an individual’s response to drugs, is an example of how genomics are increasingly relevant in clinical decision-making. Researchers have already identified a few hundred genes that are related to drug metabolism, and are continuing to identify more. In 2017, more companies are doing metabolism-oriented genetic testing, and the costs are dropping.”
“Top Pharmacy Challenges of 2017”
Source: Managed Healthcare Executive
Takeaway: “High drug prices will continue to be the biggest pharmacy challenge for payers in 2017, sparked by the entry of many new specialty drugs on the market for some common chronic diseases— such as diabetes, heart disease, Alzheimer’s, and rheumatoid arthritis—and rare diseases, such as lupus and NASH (nonalcoholic Steatohepatitis, more commonly known as fatty liver disease).”
“Top 10 Challenges Facing Physicians in 2017”
Source: Medical Economics
Takeaway: “Accept reality. Healthcare reimbursements are migrating from volume to value. MACRA will most likely serve as the road map for other payers, so get used to the reporting requirements. Documenting and reporting every treatment through a certified EHR or other approved method is the only way physicians can get paid for services.”
Top Health Industry Issues of 2017: A Year of Uncertainty and Opportunity
Source: PricewaterhouseCoopers
Takeaway: “Facing increasingly challenging reimbursement and regulatory environments, as well as new trends in consumerism, pharmaceutical companies in 2017 will better engage with patients to justify prices, show value and satisfy calls by regulators who want them to work more closely with the people who use their products.”
The ACA Individual Market: 2016 Will Be Better Thank 2015, But Achieving Target Profitability Will Take Longer
Source: S&P Global Ratings
Takeaway: “For 2017, we believe the continued pricing correction and network design changes, along with regulatory fine-tuning of ACA rules, will result in closer to break-even results, in aggregate, for the individual market, and more insurers reporting profits in this segment.”